Event Audit Value and Benefits

 

General Information

 

§         93% of brand marketers want to see independent, third-party data (TSEA survey)

§         TSEA, CEMA, and IAEE are all strongly in favor of third-party audited event data

§         Most brand marketers do not know to ask for third-party data by name (audit)

§         Brand marketers are seeking measurement metrics and accountability

§         An event organizer can indirectly help with ROI by providing brand marketers with various tools including audit reports and the ROI Tool Kit

§         Senior marketers are constantly seeking better information from their staff for justification of media purchases and a third-party audit report is just the tool to send upward in support of exhibition investment decisions
 

Low Cost – High Value

 

§         The cost is lower than expected:

ü                  Usually no additional internal costs (if already verifying attendance)

ü                  Audit cost is the same as most 10x10 booth spaces

§         A third-party event audit report is a low-cost sales and marketing tool that will help shorten the sales cycle and solidify client relationships.

 

Beneficial Tool – An event audit report…

 

§         can be used from the beginning to the end of the exhibit sales cycle for renewals or new prospects

§         can help lower attrition and raise retention

§         provides transparency, integrity and accountability for organizers and assurance and justification for brand managers

§         will aid brand marketers to identify ways of maximizing their ROO/ROI potential, including: matchmaking opportunities; identifying new attendee segments or missed potential within existing ones; turning missed sales opportunities into opportunities gained

§         will provide information to help brand marketers promote effectively, launch new products wisely, analyze competitive sets and identify opportunities for generating more leads
  

Competitive Advantage for Both Organizers & Exhibitors

 

§         Trade shows with audits and surveys (measurement metrics) discuss verified quality and performance while trade shows without them discuss price

§         Organizers who are first to market with an event audit put competitive shows at an immediate disadvantage

§         The accountability factor involved in providing an event audit to brand marketers creates a level of trust that can foster growth of the event both internally and externally
 

About the author

For more information on how third-party data can benefit organizers and exhibitors, please call John Mikstay at 203.447.2881 or email at: jmikstay@bpaww.com. Visit our website at: www.bpaww.com/events.